November 27

Protected: 220 Nov 27, 2022 Update


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220 Shareholder

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220 Sept 2023 Update

220 Sept 2023 Update
  • I thought we were supposed to get an offer before Christmas. What a surprise that that deadline was missed. It is now a month later. Can anyone provide an update on the timing of the offer and any information on what the offer is supposed to look include? I see a mention of private stock at $4.50 per share. Is that based on real discussions with the company or somebody’s conjecture? When do you think the next monthly update will be coming out with some definitive information? Thanks George for all you do for us.

    • John, you are correct I was supposed to send an update in early January and I did not.

      We don’t have the contracts yet and there are some changes to the contract that we’re going to discuss next week we hope.

      please stay tuned, you have not missed anything and we’re doing our best to get this done.

      • I have no doubt that you guys are working hard to get this done. But it takes two to tango. Seems the neverending delays and radio silence we experienced with MetroConnect have been transferred over to the new owners as well. Is that the way Canadian companies normally conduct business? Thank you for your efforts to keep this marching forward to a happy conclusion for all of us.

        • John it’s not a new company, same one with the same people just branding it sounds like. I will have an update first of February.

  • George, Is there any update regarding the review/revisions of the offer? When do you expect us to receive something to vote on?

    • Tom we were expecting something early January, as usual MC is taking longer.

      I/we have contacted them and they are responding.

      • Thank you George. One more question. I understand the number of shares they are offering is based on the $4.50 per share price they have used to sell to investors. Is MC anticipating the price per share to be higher than that at the time of the liquidity event? One would anticipate so, right? Thanks again for answering the questions here!

        • MC has not sold any shares to any investors yet. shares have been distributed to the owners and employees of the company in effort to share part of the company and future profits.

          There is only one type of stock, the stock the owners have is identical the stock we will be receiving.

          Consider this a “ground floor” company and the number of people believe one or any of the exit strategies will result in a higher than $4.50 share price.

          This is the best I can do for now.

  • It has been two weeks since the “review” started. Surely there is some information regarding the general terms of the agreement that can be provided to investors in this forum. Have not heard from my Seattle guy in over two years, so a little more information about what a “good offer” means would be helpful. Thank you for running this blog. Much appreciated.

  • George,

    Did the meeting during the week of 11/28/22 occur? If not, any update regarding the timing of that next meeting?

    • Meeting occurred Dec 2nd. We got a good offer and the managing partners are reviewing it.

      The managing partners will get back with MC next week for revisions. after revisions we will contact all investors for their vote.

      • Terrific! Thanks for the update. It would be helpful to have general parameters regarding the offer prior to having to vote. Could anything be shared (ie – approximate offered % return on our original investment, etc)? When you say it was a “good offer”, can I presume it is materially above our original investment? Thanks again for sharing the good news!

        • Yes you will have details like value, time frame once we have an agreement with MC. We’re reviewing the offer and your MP’s will finalize and get back with MC for approval, once approved by MC your MP will contact you with the details and your vote.

  • I have no idea what my password is. I have had this for years, and just recently became aware that this investment still has life!! What do I do about getting a new one?
    Thank you,
    Carol Callaway

    • Jeff, we are not sure if they will be treated as a group or separately at this time, however in the past we always talked about each license would be it’s own identity.

  • It sounds very real and very promising. Monitoring water systems is vital to every city whether they be stormwater systems or drinking water systems! It is nice to see a company involved that has information that is easily accessible to us. I look forward to the this week’s meeting and the initial offer!

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